Question: First substitute the given values into the formula obtained from the inside- back cover. Then manipulate the resulting equation to solve for the unknown variable.

First substitute the given values into the formula obtained from the inside- back cover. Then manipulate the resulting equation to solve for the unknown variable. Obtain dollar amounts accurate to the nearest cent and other quantities to three-figure accuracy.
Use formula (10-1) to obtain PMT if FV = $1508.54, n = 4, and i = 0.05.

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